Rice Hall James & Associates LLC Raises Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Rice Hall James & Associates LLC raised its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 25.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 106,808 shares of the financial services provider’s stock after purchasing an additional 21,663 shares during the period. Rice Hall James & Associates LLC’s holdings in First Interstate BancSystem were worth $3,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $29,000. First Horizon Corp lifted its stake in First Interstate BancSystem by 56.0% in the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after buying an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 862 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.2%

First Interstate BancSystem stock opened at $36.52 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. First Interstate BancSystem, Inc. has a 1-year low of $25.81 and a 1-year high of $39.26. The company has a market cap of $3.55 billion, a PE ratio of 11.90 and a beta of 0.76. The stock’s 50 day moving average price is $35.09 and its 200 day moving average price is $35.32.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.The firm had revenue of $5.10 million for the quarter, compared to the consensus estimate of $242.78 million. During the same period in the previous year, the business earned $0.49 earnings per share. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.47 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.1%. First Interstate BancSystem’s payout ratio is 61.24%.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 12,892 shares of First Interstate BancSystem stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $35.58, for a total value of $458,697.36. Following the sale, the insider directly owned 866,628 shares in the company, valued at $30,834,624.24. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group lifted their target price on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. DA Davidson downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $39.00 in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.00.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.